More Help For Failed Pension schemes

21 03 2007

A nice ray of light in today’s budget! Gordon Brown announced increased support for the FAS ( Financial Assistance Scheme) – which provides support to members of pension schemes where the employer went insolvent.

Collapsed occupational schemes have been a bit of an own goal (for the government), so it is nice to see at least some common sense emerge. Thanks to labor and capital blog and to Tigamoo.


New compensation limits from 1 Feb

21 03 2007

The Government has carried out its annual review of the tribunal compensation limits. The upper limit for the compensatory award for unfair dismissal will rise from £58,400 to £60,600.

The cap on a week’s pay for the purpose of calculating redundancy payments and for calculation of the basic award in unfair dismissal cases goes up to £310.